Porr qb_03_06_engl2.qxp - PORR AG
Porr qb_03_06_engl2.qxp - PORR AG
Porr qb_03_06_engl2.qxp - PORR AG
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PRODUCTION OUTPUT<br />
Total production output for the <strong>PORR</strong> Group in the first nine months of the 20<strong>06</strong> fiscal year was €1,611.6<br />
million, exceeding the comparable figure for the previous year by 1.8% or 28.0 million. Of this output volume,<br />
70.6 % (€1,137.2 million) was generated domestically and 29.4% (€474.4 million) abroad. This equates to<br />
an increase in the domestic volume of 2.9% (plus €32.2 million) with respect to the previous year. As of the<br />
reporting date, foreign output had fallen by 0.9% (-€4.2 million).<br />
DISTRIBUTION OF FOREIGN OUTPUT AS OF 30 TH SEPTEMBER 20<strong>06</strong> BY COUNTRY<br />
IN MILLION €<br />
160<br />
120<br />
80<br />
40<br />
0<br />
Czech Republic Poland Germany Hungary Switzerland Croatia Other countries<br />
In the table showing foreign output, as of 30 th September 20<strong>06</strong> “Other countries” are Bosnia and Herzegovina,<br />
France, Latvia, Montenegro, Serbia, Romania, Slovakia and Slovenia. (2005: Bosnia and Herzegovina, Slovakia<br />
and Slovenia)<br />
20<strong>06</strong> 2005<br />
Production output by markets<br />
The first three quarters of 20<strong>06</strong> continued to see<br />
variation in the development of the <strong>PORR</strong> Group’s<br />
foreign activities. The Czech Republic established<br />
itself as the group’s dominant foreign market, with an<br />
increase in output of 26.9% to €141.2 million. This<br />
was primarily attributable to building construction<br />
(+76.4% or €29.9 million to €68.9 million), with its<br />
outstanding office and commercial construction sector<br />
(+86.6% to €57.6 million). On the other hand, the<br />
civil engineering output of the TEER<strong>AG</strong>-ASD<strong>AG</strong><br />
subsidiary PSVS was only slightly above the previous<br />
year’s level (+1.5% to €65.1 million). €).<br />
With an increase of 60.4% to €116.6 million in 20<strong>06</strong>, Poland constitutes the second largest foreign<br />
market for the <strong>PORR</strong> Group. Traditionally, building construction is also the dominant sector in this market,<br />
lifting output by 42.1% or €24.4 million to €82.4 million. This trend was largely driven by office and<br />
commercial construction, which more than trebled in volume in comparison with the previous year to<br />
€56.6 million. After the completion of only initial road construction works in 20<strong>06</strong>, civil engineering was<br />
already able to account for just over 10% of total output.<br />
The situation in Germany improved somewhat in comparison with previous quarters. With orders being<br />
processed selectively due to the generally tense economic situation, there was an improvement in the<br />
previous year’s decline in almost all sectors. An output volume of €83.9 million equated to a deficit of<br />
-27.4% or €31.7 million with respect to the previous year, this figure having reached 40% at times.<br />
Last year’s business developments in Hungary were dominated by the M6 road construction project.<br />
Following the completion of this project, comparable output volumes did not eventuate in 20<strong>06</strong> as the<br />
subsequent M0 project is only in its initial stages and has yet to witness any significant provision of<br />
services. Consequently, total output in Hungary fell by 41.2% or €42.4 million to €60.4 million. Albeit in<br />
tunnel construction, a comparable situation can be found in Switzerland. A lack of follow-up projects has<br />
meant a decline in production output of 12.4% or €4.2 million to 29.5 million.<br />
In Croatia output has been lifted 33.1% or by €5.6 million to €22.4 million over the previous year, driven<br />
singularly by building construction, in particular of office and commercial construction. In Bosnia and Herzegovina,<br />
Montenegro, Romania, Serbia, Slovakia and Slovenia the group’s market presence is being expanded<br />
incrementally thanks to various small projects.<br />
Production output by sectors<br />
The <strong>PORR</strong> Group’s civil engineering divisions have been able to significantly turn around the previous year’s<br />
decline in output thanks to the launch of several major projects. Although not compensating completely for<br />
the decline, the total volume of €700.8 million is only 8% or €61.2 million below the previous year’s<br />
figure. The most robust sector is road construction, constituting almost half of all civil engineering activities,<br />
with a volume of €337.3 million (+0.3%).<br />
The group’s building construction divisions relied ostensibly on office and commercial construction projects<br />
(+ 20.1% or €31.3 million to €187.4 million) and residential construction (+20.9% or €23.3 million to<br />
€134.6 million). As only industrial plant construction (-34.5% or €28.1 million to €53.4 million) was<br />
down on 2005, an overall increase in output of 7.1% or €42.4 million to €641.6 million was recorded in<br />
the first nine months of 20<strong>06</strong>.<br />
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